Reliance Industries telecom arm Reliance Jio Infocomm has rewarded its top performers with a 15% salary hikes in a bid to retain its best talent even as its countrywide 4G operations is gattering momentum.
Jio has increased salaries of the top performers among its junior and middle level managers by 15% while high fliers among its senior executives, in the level of DGM and above, have got a 10% raise, a person aware of the matter told Economic Times.
“The hikes range is consistent in all key functions — networks/networks IT & support, sales and marketing, customer care, projects, regulatory, and HR,” the person said. That means the number of top performers are uniformly distributed across all core functions.
Jio announced its annual increments — ranging from 7%-15% for junior and middle level employees and 5%-10% for seniors — much later than last fiscal when it handed out the salary increases in April-May.
However, the numbers seem to have made up for the delay. Leading HR consultants said Jio's hikes are a tad better than average annual increments in the telecom sector that were, typically, in the 7%-12% range in this fiscal. But they maintained that Jio’s hikes are unlikely to stem attrition across levels.
A Reliance Jio Infocomm spokesperson said the company was industry leader in compensation and other HR practices. “However, as a policy, we will not be able to share any specific information related to employee remuneration,” the person said.
Jio, which finally launched its 4G services last month, has lately seen some high-profile exits. Last month, Pradeep Shrivastava stepped down as its chief marketing officer after a stint of just over a year.